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Progressive Reports April 2021 Results

MAYFIELD VILLAGE, OHIO, May 19, 2021 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for April 2021:

 April
(millions, except per share amounts and ratios; unaudited)

2021 2020 Change
     
Net premiums written$4,450.6  $3,764.2  18   %
Net premiums earned$4,133.6  $3,634.3  14   %
Net income$316.2  $952.6  (67) %
Per share available to common shareholders$0.54  $1.62  (67) %
Total pretax net realized gains (losses) on securities$191.3  $537.3  (64) %
Combined ratio 96.0  83.4 12.6 pts.
Average diluted equivalent common shares 586.8  587.2   %


 April
(thousands; unaudited)

2021 2020 Change
Policies in Force     
Personal Lines     
Agency – auto7,951.8 7,237.1 10%
Direct – auto9,478.6 8,269.2 15%
Total personal auto17,430.4 15,506.3 12%
Total special lines5,106.7 4,618.1 11%
Total Personal Lines22,537.1 20,124.4 12%
Total Commercial Lines881.2 764.6 15%
Property business2,601.2 2,282.7 14%
Companywide Total26,019.5 23,171.7 12%
      

See Progressive’s complete monthly earnings release for additional information.

About Progressive

The Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach us whenever, wherever and however it's most convenient - online at progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the third largest auto insurer in the country, a leading seller of motorcycle and commercial auto insurance, and one of the top 15 homeowners insurance carriers

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.

Company Contact:
Douglas S. Constantine
(440) 910-3563
investor_relations@progressive.com

The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
http://www.progressive.com

Progressive April 2021 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/f73f611e-0248-4366-a89d-93c45b21b74a


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